Beam Suntory Global HQ Moving From Chicago to 11 Madison Avenue
By Nicholas Rizzi January 27, 2021 1:02 pm
reprints
Spirits conglomerate Beam Suntory, which owns Jim Beam and Canadian Club whiskeys, will move its global headquarters from Chicago to 11 Madison Avenue in New York City, according to landlord SL Green Realty Corp.
Beam Suntory signed a 15-year lease for 99,556 square feet on the entire 12th floor of the 29-story building between East 24th and East 25th streets, across from Madison Square Park, SL Green (SLG) said. Asking rent was $90 per square foot.
Beam Suntory currently has its global headquarters at a 110,000-square-foot space in downtown Chicago, but plans to relocate to 11 Madison in the middle of next year, the Chicago Tribune reported. The brand — which was created in 2014 when Japanese company Suntory bought Beam for around $15 billion — still plans to keep more than 400 workers in Chicago, according to the Tribune.
The deal will move Beam Suntory closer to its parent Suntory Holdings, which has an office at 11 Madison, and brings the 2.3 million-square-foot property to 100 percent occupancy, SL Green said.
“We’re delighted to welcome Beam Suntory to 11 Madison Avenue,” Steven Durels, SL Green’s executive vice president and director of leasing and real property, said in a statement. “11 Madison has long enjoyed great popularity due to its large floor plates, beautiful architecture and spectacular location across from Madison Square Park.”
CBRE (CBRE)’s David Kleinhandler, James Whalen, Maura Flanagan and Joe Cybulski represented Beam Suntory in the deal, while Brian Waterman, Scott Klau, Erik Harris and Brent Ozarowski of Newmark (NMRK) handled it for SL Green. A spokeswoman for CBRE declined to comment and a spokesman for Newmark did not immediately respond to a request for comment.
Other tenants in the building include Yelp, Credit Suisse (CS) and Sony.
